Final exam -Florida life and health
Which of the following factors affect the amount of monthly disability benefits payable under
social security? - ANSThe THE AMOUNT OF BENEFITS AVAILABLE from other sources
Which of the following provisions specifies how long a policy owner's health coverage will
remain in effect if the policy owner does not pay the premium when it is due? - ANSGrace
period
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a
specific company. What is the bank guilty of? - ANSCoercion
A physician opens up a new practice and qualifies for a $7,000/monthly Disability income policy.
What rider would the physician add if he wants the ability to increase his policy benefits as his
practice and income grow? - ANSGuaranteed insurability option rider
Which of these types of coverage is best described as a short term medical policy -
ANSINTERIM coverage
The COBRA gives workers (and their families) whose employment has been terminated the
right to... - ANSContinue group health benefits
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement
policy? - ANSLimitation on pre-existing conditions for up to 12 months.
What are adjustable rates for life policy loans in Florida based on? - ANSMoody's corporate
bond index
A policyowner's rights are limited under which beneficiary designation? - ANSIrrevocable
A trustee-to-trustee transfer or rollover funds in a qualified plan allows a participant to avoid: -
ANSMandatory income tax withholding on the transfer amount.
J is an agent who has induced an insured through misrepresentation to surrender an existing
insurance policy. What is J guilty of? - ANSTwisted (got me twisted)
Who's life is covered on a life insurance policy that contains a payor benefit clause? - ANSChild
Which of the following annuities pays benefits based on units rather that specific dollar amounts
- ANSA Variable annuity
the USA Patriot Act was enacted in - ANS2001
, What type of rider would be added to an Accident and Health Policy if the policy owner wants to
ensure the policy will continue if he/she ever becomes totally disabled? - ANSWaiver of
Premium Rider
A Disability Income policyowner suffers a disability which was due to the same cause as a
previous disability. Both disabilities occurred within a five-month period. The insurer may cover
the second disability without a new elimination period under the: - ANSRecurrent disability
provision
What is the purpose of the Life and Health Insurance Guaranty Association? - ANSProtect
policy owners against insolvent insurance companies
In Florida, which of the following practitioners normally do NOT receive payment from health
insurance policies? - ANSNaturopaths
S would like to use dividends from her life insurance policy to purchase paid-up additions. All of
these would be factors that determine how much coverage can be purchased EXCEPT -
ANSS's attained age
In regards to representations or warranties which of these statements is true - ANSif materialto
the Risk, false representation will void the policy
Which of these action should be a producer take went to submitting and insurance application to
an insurer? - ANSInform insure relevant information not included on the application
An immediate annuity consist of a: - ANSSingle premium
A life insurance application must be signed by all of these except - ANSThe beneficiary (kid)
Additional coverage can be added to a whole life policy by adding a(n): - ANSDecreasing term
rider
Under what system do a group of doctors and hospitals in a designated area contact with an
insurer to provide any service to a prearrange cost to the insured - ANSPPO
W is a 39-year-old female who just purchased an annuity to provide income for life starting at
age 60. All of these would be acceptable annuity choices except - ANSImmediate annuity
Florida 14 day free look period for life insurance policy begins at the - ANSDate of delivery
What is considered to be a characteristic of a conditionally renewable health insurance policy? -
ANSPremiums may increase at time of renewal
Which of the following factors affect the amount of monthly disability benefits payable under
social security? - ANSThe THE AMOUNT OF BENEFITS AVAILABLE from other sources
Which of the following provisions specifies how long a policy owner's health coverage will
remain in effect if the policy owner does not pay the premium when it is due? - ANSGrace
period
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a
specific company. What is the bank guilty of? - ANSCoercion
A physician opens up a new practice and qualifies for a $7,000/monthly Disability income policy.
What rider would the physician add if he wants the ability to increase his policy benefits as his
practice and income grow? - ANSGuaranteed insurability option rider
Which of these types of coverage is best described as a short term medical policy -
ANSINTERIM coverage
The COBRA gives workers (and their families) whose employment has been terminated the
right to... - ANSContinue group health benefits
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement
policy? - ANSLimitation on pre-existing conditions for up to 12 months.
What are adjustable rates for life policy loans in Florida based on? - ANSMoody's corporate
bond index
A policyowner's rights are limited under which beneficiary designation? - ANSIrrevocable
A trustee-to-trustee transfer or rollover funds in a qualified plan allows a participant to avoid: -
ANSMandatory income tax withholding on the transfer amount.
J is an agent who has induced an insured through misrepresentation to surrender an existing
insurance policy. What is J guilty of? - ANSTwisted (got me twisted)
Who's life is covered on a life insurance policy that contains a payor benefit clause? - ANSChild
Which of the following annuities pays benefits based on units rather that specific dollar amounts
- ANSA Variable annuity
the USA Patriot Act was enacted in - ANS2001
, What type of rider would be added to an Accident and Health Policy if the policy owner wants to
ensure the policy will continue if he/she ever becomes totally disabled? - ANSWaiver of
Premium Rider
A Disability Income policyowner suffers a disability which was due to the same cause as a
previous disability. Both disabilities occurred within a five-month period. The insurer may cover
the second disability without a new elimination period under the: - ANSRecurrent disability
provision
What is the purpose of the Life and Health Insurance Guaranty Association? - ANSProtect
policy owners against insolvent insurance companies
In Florida, which of the following practitioners normally do NOT receive payment from health
insurance policies? - ANSNaturopaths
S would like to use dividends from her life insurance policy to purchase paid-up additions. All of
these would be factors that determine how much coverage can be purchased EXCEPT -
ANSS's attained age
In regards to representations or warranties which of these statements is true - ANSif materialto
the Risk, false representation will void the policy
Which of these action should be a producer take went to submitting and insurance application to
an insurer? - ANSInform insure relevant information not included on the application
An immediate annuity consist of a: - ANSSingle premium
A life insurance application must be signed by all of these except - ANSThe beneficiary (kid)
Additional coverage can be added to a whole life policy by adding a(n): - ANSDecreasing term
rider
Under what system do a group of doctors and hospitals in a designated area contact with an
insurer to provide any service to a prearrange cost to the insured - ANSPPO
W is a 39-year-old female who just purchased an annuity to provide income for life starting at
age 60. All of these would be acceptable annuity choices except - ANSImmediate annuity
Florida 14 day free look period for life insurance policy begins at the - ANSDate of delivery
What is considered to be a characteristic of a conditionally renewable health insurance policy? -
ANSPremiums may increase at time of renewal
